More than two-dozen skilled nursing facilities in Iowa are under new ownership, following the closing of a historic transaction this month. The sale is the largest SNF deal ever recorded in The Hawkeye State, according to Marcus & Millichap, which closed the transaction. ABCM sold its skilled nursing and assisted living assets to Chicago-based private […]
Ventas
Ventas (NYSE: VTR) plans to sell a total of $150 million in nursing home assets, and is close to selling a portion of the Pennsylvania facilities in a market that has proven to be challenging due to its state staffing mandate. The Chicago-based real estate investment trust (REIT) is in the midst of efforts to […]
Blueprint Healthcare Real Estate Advisors has arranged the sale of 12 skilled nursing facilities in Utah, with a portfolio of 1,275 licensed beds, to a Nevada-based operator. Blueprint did not disclose the identities of the parties involved, but shared in a March 30 press release that the firm was initially approached “by a longstanding and […]
Ventas (NYSE: VTR) on Friday announced that it intends to take ownership of the collateral that supports its approximately $486 million cash-pay mezzanine loan to Santerre Health Investors. “Ventas expects to take ownership of the Santerre Portfolio through a ‘loan to own’ structure that converts the outstanding principal amount of the Santerre Mezzanine Loan to […]
As the White House blasts the role private equity and real estate investment trusts (REITs) play in the nursing home space, some industry insiders believe that the administration is confused about how ownership actually works and where problems truly lie. David Reis, CEO of Senior Care Development, described “three players at the table,” and said […]
CareTrust REIT Inc. (Nasdaq: CTRE) is considering a sale, among other strategic options, according to unnamed sources cited by Bloomberg. The San Clemente, Calif-based real estate investment trust (REIT) is working with an advisor to gauge interest from potential suitors, including competitors in the skilled nursing space and other real estate-focused investment firms, as reported […]
With a combination of strong federal relief and a seemingly safe place in the wider health care continuum, skilled nursing facilities have repeatedly emerged as bright spots in an otherwise hazy financial outlook for players in the senior housing and care sector. Fitch Ratings on Tuesday added to that trend in awarding a BBB- rating […]
BMO Capital Markets this week downgraded its outlook for several publicly traded landlords of senior housing and skilled nursing facilities, but post-acute care emerged as a rare bright spot in the analysis — with the prediction that the sector will recover faster than its senior living counterparts. The financial services provider issued downgrades to Welltower […]
Most of the real estate investment trusts (REITs) with holdings in skilled nursing and senior housing facilities can weather the financial strains caused by COVID-19, a major credit rating agency affirmed this week — but only if current trends hold. Various REITs have responded to the pressures of the coronavirus pandemic by taking steps to […]
Colony Capital, Inc. (NYSE: CLNY) on Thursday announced the successful refinance of a $1.73 billion consolidated loan on its health care portfolio, which includes skilled nursing facilities, senior housing properties, hospitals, and medical office buildings. The new interest-only loan totals $1.52 billion, with a five-year term and a blended interest rate of one-month LIBOR plus […]
Ventas Inc. (NYSE: VTR) on Friday announced an extension of its lease arrangement with Genesis HealthCare (NYSE: GEN) — a move that intrigued analysts given other landlords’ moves away from the operator. The real estate investment trust (REIT) granted Genesis five more years under its existing rent and escalator terms, with a few landlord-friendly twists: […]
The skilled nursing industry faces an existential crisis over its future, and 2017 was a year filled with threats — financial and regulatory woes at top providers, plummeting occupancy, and continued reimbursement pressures. But it was also a year that saw promising research illustrating the utility of SNF care and successes in new payment models, […]
CareTrust REIT, Inc. (Nasdaq: CTRE) continues to snap up skilled nursing facilities previously operated by Kindred Healthcare, Inc. (NYSE: KND), announcing on Tuesday the acquisition of 13 properties in Washington, Texas and Idaho. The deal includes all seven former Kindred SNFs in Idaho, which are now operated by the Eagle, Idaho-based provider Cascadia Healthcare, LLC, as […]
Before you start sifting through your inbox, here’s what you need to know from the world of skilled nursing news from the past week: Kindred Healthcare, Inc. (NYSE: KND) began its exit from the skilled nursing industry, announcing the $519 million sale of 54 SNFs in 10 states — out of a total of 89 […]
Kindred Healthcare, Inc. (NYSE: KND) on Thursday took the first step toward its planned exit from the skilled nursing space, announcing the sale of 54 SNFs in 10 states. The $519 million transaction involves the majority of the 89 total SNFs and seven assisted living facilities that Kindred will sell to BM Eagle Holdings — a joint […]
Kindred Healthcare, Inc. (NYSE: KND) tackled life after skilled nursing on its second-quarter earnings call, the first after it finalized a $700 million deal to sell off its SNF assets in late June. “This transaction is an important step in the ongoing strategic transformation of Kindred,” president and CEO Benjamin Breier said, identifying the company’s […]
It’s the end of a holiday-shortened week, but the days off didn’t stop a wave of SNF news. In case you’ve been enjoying some extra time away from the office, here’s what you missed. We continued to untangle the strands in Kindred’s deal to exit the SNF business, a blockbuster transaction that’s worth $700 million, $910 […]
When Kindred Healthcare (NYSE: KND) finalized a blockbuster deal to sell its SNF portfolio for $700 million in cash at the start of the holiday weekend, the post-acute giant may have been making a long-term bet with significant upfront costs. Much of the $210 million that Kindred expects to net from the deal will come from […]
About six months after announcing its intention to cease being an owner and operator of skilled nursing facilities, Kindred Healthcare (NYSE: KND) has struck a deal to sell its SNF business for $700 million in cash. The total value of the transaction to Kindred is expected to be $910 million, the Louisville-based company announced late […]
Several publicly traded real estate investment trusts (REITs) have backed off skilled nursing in recent months and years, but one major player recently made an eye-popping investment in the asset class. The largest health care REITs — Ventas (NYSE: VTR), Welltower (NYSE: HCN), and HCP (NYSE: HCP) — all have either spun off the majority […]
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